Assa Abloy AB is a Swedish conglomerate whose offerings include products and services related to locks, doors, gates, and entrance automation. Related products and services include controlling access and confirming identities with keys, cards, tags, mobile, and bio-metric identity verification systems.
The company was formed in 1994, when Assa AB was separated from Swedish security firm
Securitas AB. Shortly thereafter, Assa AB merged with the Finnish high security lock manufacturer Abloy Oy (based in
Joensuu
Joensuu (; krl, Jovensuu; ) is a city and municipality in North Karelia, Finland, located on the northern shore of Lake Pyhäselkä (northern part of Lake Saimaa) at the mouth of the Pielinen River (''Pielisjoki''). It was founded in 1848. The ...
, a subsidiary of the Finnish company
Wärtsilä
Wärtsilä Oyj Abp (), trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technol ...
). The company was introduced to the
Stockholm Stock Exchange
Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange ( sv, Stockholmsbörsen), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As ...
later the same year. Assa Abloy has since made over 200 acquisitions including
Yale lock,
Chubb Locks,
Medeco in the United States,
Mul-T-Lock
Mul-T-Lock is an Israeli locking products manufacturer and part of Assa Abloy.
History
Mul-T-Lock was established in 1973 and become famous for its four-way lock invention. In 1976, the success of Mul-T-Lock's four-way lock spread worldwide when ...
in Israel and
Fichet-Bauche in France. Its two largest shareholders are
Latour
Latour may refer to:
People
* LaTour, American musician
Surname
* House of Baillet
** Alfred de Baillet Latour (1901–1980),
**Henri de Baillet-Latour (1876–1942), Belgian aristocrat and the third president of the International Olympic Commi ...
and Melker Schörling AB.
Name
Assa Abloy was founded at the merger of the two companies Assa and Abloy in 1994. Assa stands for August Stenman Stenman August.
[ASSA History](_blank)
/ref>[Assa Abloy: History](_blank)
/ref> The name comes from a contraction of the Swedish Finnish bilingual name Ab Låsfabriken Lukkotehdas Oy, meaning literally ''Corp. Lock Factory Lock Factory Corp.'' (first Corp. and Låsfabriken from Swedish, last Lukkotehdas and Corp. from Finnish). In 1919 the company was renamed Aktiebolag Lukko Osakeyhtio.
History
Founding, growth and development
Assa Abloy was formed in 1994, through the merger of Swedish firm ASSA and Finnish high security lock manufacturer Abloy. The company was introduced to the Stockholm Stock Exchange later the same year.[Assa Abloy Acquisitions]
From a regional company with 4,700 employees in 1994, Assa Abloy has become a global group with 51,000 employees in 2021. The company has grown its revenue by more than 9% annually and operates now in over 70 countries.
Revenue in 2021 was SEK 95,007 M.
Brands
* ASSA, Sweden (name giver) (August Steinman Steinman August)
* Abloy, Joensuu & Helsinki, Finland (name giver) (AktieBolag Lukko OsakeYhtiö)
* Arrow, United States
* August Home, United States
* Besam, Sweden (Bertil Samuelsson)
* Baron, Canada
* Corbin Russwin, United States
* Carlisle Brass, United Kingdom
* Emtek Products, Inc, United States
* FAB, Czechia (Faborsky)
* Guoqiang, China
* HID (Hughes Identification Devices), United States
* HKC Security, Ireland
* Ikon, Germany
* JPM, France (Jean Pierre Maquennehen)
* Keso, Switzerland (Keller & Sohn)
* Litto, Belgium (Littoral)
* Lockwood, Australia
* Lorient, United Kingdom
* MAUER, Bulgaria
* Medeco, United States (Mechanical Development Company)
* Mul-T-Lock
Mul-T-Lock is an Israeli locking products manufacturer and part of Assa Abloy.
History
Mul-T-Lock was established in 1973 and become famous for its four-way lock invention. In 1976, the success of Mul-T-Lock's four-way lock spread worldwide when ...
, Israel
* Phillips, Mexico
* PTI Security Systems, United States (Preffered Technology Incorporated)
* Rixson, United States
* Ruko, Denmark (Rudolf Koreska)
* Tesa, Spain (Talleres Eskoriaza Sociedad Annonima)
* St Guchi, Malaysia
* Sure-Loc Hardware, United States
* Union, United Kingdom
* Vachette, France
* VingCard Elsafe
VingCard Elsafe, whose origin was in Moss, Norway, is an international producer of hotel locking systems, electronic in-room safes and energy management systems. After inventing the first mechanical hole card operated lock in 1976, VingCard was ...
, Norway
* Yale
Yale University is a private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the third-oldest institution of higher education in the United States and among the most prestigious in the wor ...
, United States, United Kingdom, India
Acquisitions
In May 1999, the acquisition of Effeff Fritz Fuss in Germany enabled Assa Abloy to enter the electromechanical lock market. Assa Abloy also acquires Mul-T-Lock in Israel, a manufacturer of high security locks. Assa Abloy doubles in size in 2000, when it acquires the global lock group Yale Intruder Security. In the same year, Assa Abloy acquires HID, adding electronic identification to its product portfolio.
In April 2002, Assa Abloy Group acquired Besam, a Swedish company specialized in automatic pedestrian doors. Another important acquisition for the group was Fargo Electronics, a company which develops systems for safe issuing of credit, bank, debit and ID cards. This was followed by other acquisitions such as Baodean in China and Irevo in South Korea in 2007.
In 2009, the Italian door automation manufacturer, Ditec, was bought. Important acquisitions were also made in September 2011, with the purchase of Crawford and Flexiforce. A number of purchases followed in 2012. The group acquired Albany Door Systems, a manufacturer of high speed industrial doors. November 2013 came with the purchase of the Polish fire and security door manufacturer Mercor SA, Ameristar USA, and Amarr.
In December 2018, Assa Abloy acquired Lorient, a UK based designer and manufacturer of high performance door sealing systems.
In December 2018, Assa Abloy acquired Luxer One, a leading advanced package locker solutions business in the US.
In February 2020, Assa Abloy acquired the UK-based, 140-strong biometric access and workforce management technology business, Biosite.
In May 2021, Assa Abloy acquired Sure-Loc, the leading supplier of residential locks and associated hardware in the US.
In September 2021, Assa Abloy acquired the Hardware and Home Improvement ("HHI") division of Spectrum Brands for $4.3 billion. HHI has a varied portfolio of products, including patented SmartKey technology and electronic, smart and biometric locks. Key brands include Kwikset, Baldwin, Weiser, Pfister and National Hardware. HHI is headquartered in Lake Forest, California with some 7,500 employees worldwide and has manufacturing facilities in the United States, Mexico, Taiwan, China, and the Philippines.
Cooperation with colleges and universities
The company is a Corporate Partner in the Stockholm School of Economics partner program for companies that contribute financially to the college and works closely with regard to research and education. In October 2015, Assa Abloy joined as partner to KTH Royal Institute of Technology
The KTH Royal Institute of Technology ( sv, Kungliga Tekniska högskolan, lit=Royal Institute of Technology), abbreviated KTH, is a public research university in Stockholm, Sweden. KTH conducts research and education in engineering and technolog ...
’s Things, a start up hub for companies in the Internet-of-things
The Internet of things (IoT) describes physical objects (or groups of such objects) with sensors, processing ability, software and other technologies that connect and exchange data with other devices and systems over the Internet or other comm ...
sector.
See also
* List of Swedish companies
References
External links
*
Abloy brand website
{{Authority control
Manufacturing companies established in 1994
Manufacturing companies based in Stockholm
Lock manufacturers
Wärtsilä
Companies listed on Nasdaq Stockholm
Swedish companies established in 1994
Swedish brands
Multinational companies headquartered in Sweden